State Farm says in 13 of the last 15 years, it paid out more than budgeted to cover damage from severe weather events in Illinois.

State Farm’s plan to raise homeowners insurance rates by more than half a billion dollars in Illinois has reignited calls from consumer advocates to overhaul how the state oversees insurance rates. “Home insurance rates are on the rise in Illinois due to rising home replacement costs and more frequent severe weather

State Farm is planning a major rate hike for Illinois home insurance starting in August. The insurance company is raising its home insurance rates by 27% on average, the company confirmed in an email to CBS News Chicago.